I dont like BitCoin for these reasons:
1. The whole idea that someone can turn on his computer/GPU and "
bit mine" and earn money is ridiculous.
Lots of companies already have lots of computers earning money. Visa, Mastercard, Western Union, they use computers to send money. They provide a valuable service with computers, and that's how they earn their money. Bitcoin also uses computers to run a transaction network which provides the same valuable service as Western Union or Visa.
People should earn money when they work hard for it.
People get money in exchange for something of value, whether or not they have to work for it. If I do 500 pushups a day, and I lose 50 pounds, will you pay me for that? I worked hard, but I didn't give you anything of value that you want to spend money for.
But you're confused about the difference between
earning money and
creating money.
Bitcoin requires a lot more work to create money, compared to fiat money which comes out of thin air, doesn't even exist, and is essentially worthless.
Turning on a computer and leaving it to run does not and should not count.
You left out the part where they had to spend thousands of hard-earned dollars to get the computers in the first place.
After they get the computer, they can't just turn it on and leave it running. They have to apply knowledge and education, and even then they have to provide something valuable to other people. What if they leave their computer running to mine another coin that never becomes as valuable as Bitcoin? Then they didn't make the most profitable decision.
This is a waste of electricity as well and therefore it causes greenhouse gases and has a
carbon footprint.If it was a waste, people wouldn't spend millions of dollars on it every day. If you think computers hurt the earth, then turn off your computer.
2. One would think they came up with a new currency system so theft could be prevented.
Here's your chance! Give us a currency that can't be stolen. If you can't, then don't expect other people to do the impossible.
Not as often as fiat money.
Why couldn't they "disable" the serial numbers of the currency that was stolen?
U.S. Dollars have serial numbers. Why does theft still exist?
Who do you think should decide which Bitcoins are stolen? If I lie and say your money belongs to me, do you want some government employee to be able to push a button and take all your money away just based on my word?
Thats the kind of system that should have been designed.
If you think it should be designed, then design it.
3. BC is unstable.
The U.S. Dollar is unstable. It continues to lose value every year for over 100 years.
People lost a lot of money
People lose more money with fiat investments.
and they did nothing wrong.
Yes they did. They paid too much and sold for too little.
They could have waited 2 more years and maybe Bitcoin will be worth a lot more than they paid. So obviously they did something wrong, if they lost money when other people became millionaires with Bitcoin.
A good modern currency should not have this defect.
Please name the currency you're talking about. Which currency doesn't lose value? Which currency can't be stolen?
And now tell us which currency gained 1000% in 3 years, while every other currency in the world lost value.
One would think if a new digital currency was created it wouldnt have issues like this. Computers and software are so powerful now.
You just said that computers and software don't do anything valuable and they can't do work.
But now you think computers can solve all the world's problems?
"Then dont use it" Or "Why dont you make your own currency system?"
These are not valid responses so they shouldnt be said here.
If they're not valid statements, then WHY ARE YOU SAYING THEM?
All you are saying is, "Why don't you make a better currency system?"
If you think it's a good question to ask us, then it's a good question to ask you. Why don't you make a better currency?
We don't make our own currency because we don't think Bitcoin has these "problems" you're talking about.
Since you're the one who sees these things as problems, you're the one who should "fix" the problems. Everybody else will continue to use Bitcoin.